India Shrimp Market

India Shrimp Market, By Species (Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii); By Form (Fresh Shrimp, Frozen Shrimp, Processed Shrimp); By Product Category (Peeled, Shell-on, Cooked, Breaded); By End User (Domestic Consumers, HORECA, Seafood Processors, Exporters); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: June 2024
  • Report ID: BWC24430
  • Available Format: PDF
  • Page: 200

Report Overview

Increasing shift in consumer preferences toward protein-rich seafood and the government’s growing support for aquaculture are expected to drive the India Shrimp Market during the forecast period between 2024 and 2030.

India Shrimp Market – Industry Trends & Forecast Report, 2030

The India Shrimp Market size by value was estimated at USD 8.1 billion in 2023. During the forecast period between 2024 and 2030, the India Shrimp Market size is projected to grow at a CAGR of 10.24% reaching a value of USD 18.27 billion by 2030. Prominent drivers of the market include the growing consumer demand for protein-rich seafood, the rising popularity of shrimp-based dishes, and significant advancements in aquaculture practices. The rising shrimp exports due to escalating global demand, particularly from countries like the United States, the European Union, and Japan is expected to further boost the expansion of the India Shrimp Market. Indian shrimp is favored for its quality, competitive pricing, and compliance with international standards. Within India, the growing popularity of shrimp-based cuisine and the preference for protein-rich seafood have accelerated adoption rates. Notably, the widespread use of shrimp in various dishes, supported by India's diverse culinary traditions, has boosted domestic demand. Also, advancements in aquaculture practices and sustainable shrimp farming techniques, along with increased shrimp production, are propelling market growth. Government support through favorable policies, subsidies, and research and development initiatives further enhances production efficiency and ensures adherence to environmental regulations, contributing significantly to the market's expansion.

India Shrimp Market

By volume, the India Shrimp Market size was estimated at 697,141 metric tons in 2023. During the forecast period between 2024 and 2030, the India Shrimp Market size is projected to grow at a CAGR of 10.09% reaching the volume of 832,389 metric tons by 2030. In India, shrimp production through capture reached 343,000 metric tons in 2006. The commercial development of shrimp culture in India has surged in recent years due to economic liberalization, high profitability, and strong international demand. From 70,686 metric tons in 1996-97, shrimp production increased to 143,170 metric tons in 2005-06. Andhra Pradesh emerged as the leading producer in India, contributing over 70,000 metric tons in 2005-06.

Shrimp Market – Overview

Shrimps, small marine crustaceans from the order Decapoda, are a crucial part of the seafood industry and are widely consumed globally. They feature a slender, elongated body with a tough exoskeleton and five pairs of legs, including two claws. Found in coastal waters, estuaries, and deep oceans, shrimps are prized for their delicate, sweet flavor and tender texture, making them popular in many cuisines. Harvested through fishing or aquaculture, shrimps are valued for their high nutritional content, including protein, vitamins, and minerals, enhancing their reputation as a healthy seafood choice.

India Shrimp Market

Growth Drivers

Growing Government Support

The Indian government is significantly boosting the aquaculture sector through initiatives like the Pradhan Mantri Matsya Sampada Yojana, with a financial outlay of INR 20,050 crore. At the Shrimp Farmers Conclave-2023, Union Minister Shri Parshottam Rupala launched a Shrimp Crop Insurance scheme and awarded INR 40.05 lakh to beneficiaries. Additionally, MoUs were signed to support aquaculture with subsidies and technology. The government's focus on genetic improvement programs, disease control, and regulatory support underscores its commitment to advancing shrimp farming. These measures, including farm registration with the Coastal Aquaculture Authority, aim to enhance production efficiency and ensure sustainable development in the sector.

Rising Demand for Seafood Protein

India's shrimp farming industry has experienced substantial growth since the late 1980s, driven by the increasing global demand for protein-rich seafood. The introduction of Specific Pathogen Free (SPF) Pacific white shrimp (Litopenaeus vannamei) in 2008 significantly boosted productivity and disease resistance. Investments in hatcheries, feed mills, and processing plants have further supported this growth. The government's approval of SPF black tiger shrimp imports and ongoing support for biosecure facilities highlight the sector's adaptability and resilience. As global and domestic markets continue to seek high-quality seafood, India's shrimp industry is well-positioned to meet the rising demand for protein-rich shrimp.

Challenges

Fluctuating Shrimp Prices

Fluctuating shrimp prices significantly hinder the growth of the Indian shrimp market. Market volatility, driven by inconsistent international demand and competition from other major shrimp-producing countries, creates financial uncertainty for producers. This instability affects investment in shrimp farming infrastructure and limits the sector's expansion potential, despite strong global and domestic demand for seafood protein.

Impact of Escalating Geopolitical Tensions on India Shrimp Market

Geopolitical tensions can have a multifaceted impact on the India Shrimp Market by disrupting export routes and increasing trade barriers. Uncertainty in international relations can lead to fluctuating demand and stricter import regulations in key markets like the United States, the European Union, and China. These tensions also cause volatility in currency exchange rates, affecting profitability for exporters. Additionally, geopolitical conflicts may lead to higher transportation costs and delays, further straining the supply chain. Consequently, these challenges hinder market growth and create instability for shrimp producers in India.

India Shrimp Market

Segmental Coverage

India Shrimp Market – By Species

By species, the India Shrimp Market is divided into Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, and other segments. The Penaeus vannamei segment holds the highest share in the India Shrimp Market by species. The Pacific white shrimp (Penaeus vannamei) has become highly favored among shrimp farmers and exporters due to its rapid growth, high reproductive rates, and adaptability to various aquaculture systems. Its introduction in India has transformed the shrimp farming industry, boosting production and enhancing product quality. This species thrives in diverse environmental conditions, enabling successful cultivation in regions like Andhra Pradesh, Gujarat, and West Bengal. Its strong market acceptance, both domestically and internationally, has solidified India’s status as a leading shrimp producer and exporter. The widespread cultivation of Penaeus vannamei is a key driver of the Indian shrimp market's growth and expansion.

India Shrimp Market Share

India Shrimp Market – By Form

On the basis of form, the India Shrimp Market is divided into Fresh Shrimp, Frozen Shrimp, and Processed Shrimp segments. The frozen shrimp segment holds the highest share in the India Shrimp Market by form. The growth is primarily driven by global demand and favorable prices for Indian shrimp. The rise in exports to the European Union and the Middle East has also boosted this segment. Also, The central government's Production Linked Incentive (PLI) scheme for the food processing sector, including value-added shrimp, has further boosted shrimp exports. Indian aquaculture farms are increasing shrimp production, particularly vannamei shrimp, to meet this demand. The success in frozen shrimp exports highlights India's strength in the global seafood market and its ability to adapt to shifting market dynamics. Meanwhile, the fresh shrimp segment is expected to witness the fastest growth rate during the forecast period. It can be attributed to an increasing consumer demand for fresh seafood and improvements in supply chain logistics, which ensure quicker and more efficient delivery of fresh shrimp to markets domestically and internationally.

India Shrimp Market Size

India Shrimp Market – By Product Category

By product category, the India Shrimp Market is divided into Peeled, Shell-on, Cooked, and Breaded segments.

India Shrimp Market – By End User

By end user, the India Shrimp Market is divided into Domestic Consumers, HORECA (Hotels, Restaurants, and Caterers), Seafood Processors, and Exporters segments. The domestic consumers segment holds the highest share in the India Shrimp Market by end user. It is primarily due to the widespread consumption of shrimp as a staple food in Indian cuisine, especially in coastal regions where seafood is integral to local diets. Additionally, the growing popularity of shrimp-based dishes in urban areas and the rising disposable income of consumers contribute to increased demand. Furthermore, cultural preferences and traditions favor the consumption of shrimp domestically, driving substantial sales within the country and highlighting the significant role of domestic consumers in the Indian shrimp market.

India Shrimp Market – By Region

Geographically, the India Shrimp Market is divided into North India, South India, East India, and West India regions. West Bengal, Gujarat, and Andhra Pradesh emerge as key players in the Indian shrimp market. West Bengal, situated along the Bay of Bengal, benefits from abundant access to brackish water, ideal for shrimp farming. Its extensive coastline and favorable climate support a thriving aquaculture industry. Gujarat's coastal geography and robust infrastructure attract significant investment in shrimp farming, aided by proactive government policies and an export-oriented approach. Meanwhile, Andhra Pradesh stands out with its vast coastal area and expertise in shrimp farming, adopting modern practices and emphasizing high-quality production, thus driving India's shrimp market growth.

Competitive Landscape

Major players operating in India Shrimp Market include Nekkanti Sea Foods Limited, Devi Sea Foods Limited, Avanti Frozen Foods Private Limited, Kings Infra Ventures Limited, Liberty Group of Seafood Companies, Jayalakshmi Sea Foods Pvt Ltd, SSF Limited, Apex Frozen Foods Ltd, Megaa Moda Private Limited, Zeal Aqua Limited, and Coastal Corporation Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

By Value - USD Billion 

By Volume - Metric Tons

Market Coverage

India

Product/ Service Segmentation

Species, Form, Product Category, End-User, Region

Key Players

Nekkanti Sea Foods Limited, Devi Sea Foods Limited, Avanti Frozen Foods Private Limited, Kings Infra Ventures Limited, Liberty Group of Seafood Companies, Jayalakshmi Sea Foods Pvt. Ltd, SSF Limited, Apex Frozen Foods Ltd, Megaa Moda Private Limited, Zeal Aqua Limited, Coastal Corporation Limited

 

By Species

  • Penaeus Vannamei

  • Penaeus Monodon

  • Macrobrachium Rosenbergii

By Form

  • Fresh Shrimp

  • Frozen Shrimp

  • Processed Shrimp

By Product Category

  • Peeled

  • Shell-on

  • Cooked

  • Breaded

By End-User

  • Domestic Consumers

  • HORECA

  • Seafood Processors

  • Exporters

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Shrimp Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increasing Shift in Consumer Preferences
        2. Growing Government Support
        3. Rising Demand for Seafood Protein
      2. Restraints
        1. Fluctuating Shrimp Prices
        2. Disease Outbreaks
      3. Opportunities
        1. Increasing Sustainable Practices
        2. Rising Advancements in Technology
      4. Challenges
        1. Rising Input Costs
        2. Competition from global players
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Shrimp Market: Marketing Strategies
  5. India Shrimp Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
      2. By Volume (Metric Tons)
    2. Market Share & Forecast
      1. By Species
        1. Penaeus Vannamei
        2. Penaeus Monodon
        3. Macrobrachium Rosenbergii
        4. Others
      2. By Form
        1. Fresh Shrimp
        2. Frozen Shrimp
        3. Processed Shrimp
      3. By Product Category
        1. Peeled
        2. Shell-on
        3. Cooked
        4. Breaded
      4. By End User
        1. Domestic Consumers
        2. HORECA
        3. Seafood Processors
        4. Exporters
      5. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  6. North India Shrimp Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
      2. By Volume (Metric Tons)
    2. Market Share & Forecast
      1. By Species
      2. By Form
      3. By Product Category
      4. By End User
  7. South India Shrimp Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
      2. By Volume (Metric Tons)
    2. Market Share & Forecast
      1. By Species
      2. By Form
      3. By Product Category
      4. By End User
  8. East India Shrimp Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
      2. By Volume (Metric Tons)
    2. Market Share & Forecast
      1. By Species
      2. By Form
      3. By Product Category
      4. By End User
  9. West India Shrimp Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
      2. By Volume (Metric Tons)
    2. Market Share & Forecast
      1. By Species
      2. By Form
      3. By Product Category
      4. By End User
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Shrimp Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Escalating Geopolitical Tensions on India Shrimp Market
  12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Nekkanti Sea Foods Limited
    2. Devi Sea Foods Limited
    3. Avanti Frozen Foods Private Limited
    4. Kings Infra Ventures Limited
    5. Liberty Group of Seafood Companies
    6. Jayalakshmi Sea Foods Pvt Ltd
    7. SSF Limited
    8. Apex Frozen Foods Ltd
    9. Megaa Moda Private Limited
    10. Zeal Aqua Limited
    11. Coastal Corporation Limited
    12. Other Prominent Players
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

 

List of Figures

 

Figure 1       India Shrimp Segmentation

Figure 2       India Shrimp Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Shrimp Market Size, By Value (USD Billion), 2019–2030

Figure 5       India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Figure 6       India Shrimp Market Share, By Species, By Value, 2019–2030

Figure 7       India Shrimp Market Share, By Species, By Volume, 2019–2030

Figure 8       India Shrimp Market Share, By Form, By Value, 2019–2030

Figure 9       India Shrimp Market Share, By Form, By Volume, 2019–2030

Figure 10     India Shrimp Market Share, By Product Category, By Value, 2019–2030

Figure 11     India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Figure 12     India Shrimp Market Share, By End User, By Value, 2019–2030

Figure 13     India Shrimp Market Share, By End User, By Volume, 2019–2030

Figure 14     India Shrimp Market Share, By Region, By Value, 2019–2030

Figure 15     India Shrimp Market Share, By Region, By Volume, 2019–2030

Figure 16     North India Shrimp Market Size, By Value (USD Billion), 2019–2030

Figure 17     North India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Figure 18     North India Shrimp Market Share, By Species, By Value, 2019–2030

Figure 19     North India Shrimp Market Share, By Species, By Volume, 2019–2030

Figure 20     North India Shrimp Market Share, By Form, By Value, 2019–2030

Figure 21     North India Shrimp Market Share, By Form, By Volume, 2019–2030

Figure 22     North India Shrimp Market Share, By Product Category, By Value, 2019–2030

Figure 23     North India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Figure 24     North India Shrimp Market Share, By End User, By Value, 2019–2030

Figure 25     North India Shrimp Market Share, By End User, By Volume, 2019–2030

Figure 26     South India Shrimp Market Size, By Value (USD Billion), 2019–2030

Figure 27     South India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Figure 28     South India Shrimp Market Share, By Species, By Value, 2019–2030

Figure 29     South India Shrimp Market Share, By Species, By Volume, 2019–2030

Figure 30     South India Shrimp Market Share, By Form, By Value, 2019–2030

Figure 31     South India Shrimp Market Share, By Form, By Volume, 2019–2030

Figure 32     South India Shrimp Market Share, By Product Category, By Value, 2019–2030

Figure 33     South India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Figure 34     South India Shrimp Market Share, By End User, By Value, 2019–2030

Figure 35     South India Shrimp Market Share, By End User, By Volume, 2019–2030

Figure 36     East India Shrimp Market Size, By Value (USD Billion), 2019–2030

Figure 37     East India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Figure 38     East India Shrimp Market Share, By Species, By Value, 2019–2030

Figure 39     East India Shrimp Market Share, By Species, By Volume, 2019–2030

Figure 40     East India Shrimp Market Share, By Form, By Value, 2019–2030

Figure 41     East India Shrimp Market Share, By Form, By Volume, 2019–2030

Figure 42     East India Shrimp Market Share, By Product Category, By Value, 2019–2030

Figure 43     East India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Figure 44     East India Shrimp Market Share, By End User, By Value, 2019–2030

Figure 45     East India Shrimp Market Share, By End User, By Volume, 2019–2030

Figure 46     West India Shrimp Market Size, By Value (USD Billion), 2019–2030

Figure 47     West India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Figure 48     West India Shrimp Market Share, By Species, By Value, 2019–2030

Figure 49     West India Shrimp Market Share, By Species, By Volume, 2019–2030

Figure 50     West India Shrimp Market Share, By Form, By Value, 2019–2030

Figure 51     West India Shrimp Market Share, By Form, By Volume, 2019–2030

Figure 52     West India Shrimp Market Share, By Product Category, By Value, 2019–2030

Figure 53     West India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Figure 54     West India Shrimp Market Share, By End User, By Value, 2019–2030

Figure 55     West India Shrimp Market Share, By End User, By Volume, 2019–2030

 

List of Tables

 

Table 1        India Shrimp Market Size, By Value (USD Billion), 2019–2030

Table 2        India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Table 3        India Shrimp Market Share, By Species, By Value, 2019–2030

Table 4        India Shrimp Market Share, By Species, By Volume, 2019–2030

Table 5        India Shrimp Market Share, By Form, By Value, 2019–2030

Table 6        India Shrimp Market Share, By Form, By Volume, 2019–2030

Table 7        India Shrimp Market Share, By Product Category, By Value, 2019–2030

Table 8        India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Table 9        India Shrimp Market Share, By End User, By Value, 2019–2030

Table 10      India Shrimp Market Share, By End User, By Volume, 2019–2030

Table 11      India Shrimp Market Share, By Region, By Value, 2019–2030

Table 12      India Shrimp Market Share, By Region, By Volume, 2019–2030

Table 13      North India Shrimp Market Size, By Value (USD Billion), 2019–2030

Table 14      North India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Table 15      North India Shrimp Market Share, By Species, By Value, 2019–2030

Table 16      North India Shrimp Market Share, By Species, By Volume, 2019–2030

Table 17      North India Shrimp Market Share, By Form, By Value, 2019–2030

Table 18      North India Shrimp Market Share, By Form, By Volume, 2019–2030

Table 19      North India Shrimp Market Share, By Product Category, By Value, 2019–2030

Table 20      North India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Table 21      North India Shrimp Market Share, By End User, By Value, 2019–2030

Table 22      North India Shrimp Market Share, By End User, By Volume, 2019–2030

Table 23      South India Shrimp Market Size, By Value (USD Billion), 2019–2030

Table 24      South India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Table 25      South India Shrimp Market Share, By Species, By Value, 2019–2030

Table 26      South India Shrimp Market Share, By Species, By Volume, 2019–2030

Table 27      South India Shrimp Market Share, By Form, By Value, 2019–2030

Table 28      South India Shrimp Market Share, By Form, By Volume, 2019–2030

Table 29      South India Shrimp Market Share, By Product Category, By Value, 2019–2030

Table 30      South India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Table 31      South India Shrimp Market Share, By End User, By Value, 2019–2030

Table 32      South India Shrimp Market Share, By End User, By Volume, 2019–2030

Table 33      East India Shrimp Market Size, By Value (USD Billion), 2019–2030

Table 34      East India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Table 35      East India Shrimp Market Share, By Species, By Value, 2019–2030

Table 36      East India Shrimp Market Share, By Species, By Volume, 2019–2030

Table 37      East India Shrimp Market Share, By Form, By Value, 2019–2030

Table 38      East India Shrimp Market Share, By Form, By Volume, 2019–2030

Table 39      East India Shrimp Market Share, By Product Category, By Value, 2019–2030

Table 40      East India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Table 41      East India Shrimp Market Share, By End User, By Value, 2019–2030

Table 42      East India Shrimp Market Share, By End User, By Volume, 2019–2030

Table 43      West India Shrimp Market Size, By Value (USD Billion), 2019–2030

Table 44      West India Shrimp Market Size, By Volume (Thousand Tonnes), 2019–2030

Table 45      West India Shrimp Market Share, By Species, By Value, 2019–2030

Table 46      West India Shrimp Market Share, By Species, By Volume, 2019–2030

Table 47      West India Shrimp Market Share, By Form, By Value, 2019–2030

Table 48      West India Shrimp Market Share, By Form, By Volume, 2019–2030

Table 49      West India Shrimp Market Share, By Product Category, By Value, 2019–2030

Table 50      West India Shrimp Market Share, By Product Category, By Volume, 2019–2030

Table 51      West India Shrimp Market Share, By End User, By Value, 2019–2030

Table 52      West India Shrimp Market Share, By End User, By Volume, 2019–2030

Table 53    Nekkanti Sea Foods Limited Company Overview

Table 54    Nekkanti Sea Foods Limited Financial Overview

Table 55    Devi Sea Foods Limited Company Overview

Table 56    Devi Sea Foods Limited Financial Overview

Table 57    Avanti Frozen Foods Private Limited Company Overview

Table 58    Avanti Frozen Foods Private Limited Financial Overview

Table 59    Kings Infra Ventures Limited Company Overview

Table 60    Kings Infra Ventures Limited Financial Overview

Table 61    Liberty Group of Seafood Companies Company Overview

Table 62    Liberty Group of Seafood Companies Financial Overview

Table 63    Jayalakshmi Sea Foods Pvt Ltd Company Overview

Table 64    Jayalakshmi Sea Foods Pvt Ltd Financial Overview

Table 65    SSF Limited Company Overview

Table 66    SSF Limited Financial Overview

Table 67    Apex Frozen Foods Ltd Company Overview

Table 68    Apex Frozen Foods Ltd Financial Overview

Table 69    Megaa Moda Private Limited Company Overview

Table 70    Megaa Moda Private Limited Financial Overview

Table 71    Zeal Aqua Limited Company Overview

Table 72    Zeal Aqua Limited Financial Overview

Table 73    Coastal Corporation Limited Company Overview

Table 74    Coastal Corporation Limited Financial Overview

Table 75    Other Prominent Players Company Overview

Table 76    Other Prominent Players Financial Overview
 

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: The India Shrimp Market size by value was estimated at USD 8.1 billion in 2023.
Ans: The India Shrimp Market by value is expected to grow at a CAGR of 10.24% during the forecast period between 2024 and 2030.
Ans: The India Shrimp Market size is forecast to reach a value of USD 18.27 billion by 2030.
Ans: The growth of the India Shrimp Market is primarily driven by an increasing shift in consumer preference, growing government support and rising demand for seafood protein.
Ans: The frozen shrimp segment holds a major share in the India Shrimp Market by form.
Ans: The domestic consumers segment is expected to grow at the fastest CAGR in the India Shrimp Market during the forecast period between 2024 and 2030.